Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. costner corporation is being audited by brightside

Costner Corporation is being audited by Brightside CPAs. As the audit focus turns to the...

80.2K

Verified Solution

Question

Accounting

image Costner Corporation is being audited by Brightside CPAs. As the audit focus turns to the client's inventory accounts, one of the partners in charge of the audit notes that the client maintains excellent and robust electronic records pertaining to inventory. Based on this finding, which of the following might the auditors decide to do? The auditors may opt to perform substantive procedures on the client's records system in lieu of directly auditing the client's inventory accounts. The auditors may choose to defer this part of the audit to the client's internal audit function. The auditors may decide to use an audit data analytics (ADA) procedure to test the population of inventory. The auditors may decide to preemptively issue a clean audit opinion on the client's inventory, as the electronic records will suffice

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students